Edition: Dec 2013- Feb 2014
Editorials

GRAVY

Unless you’re unfortunate enough to be nabbed and imprisoned after 10 years like Jeff Levenstein of so-called Regal Bank, the going rate for commercial malfeasance seems to be a lot less troublesome. J Arthur Brown was fined R75 000 per count on which he’d pleaded guilty, and Dave King agreed to a sentence of R80 000 per count.

Now let’s assume, hypothetically of course, that the JSE committee is sitting to consider its rule on who’s “fit and proper” to be a director of a listed company. Would JAB qualify?


Latest report of the Fidentia curators, published on the FSB website, clearly lists all details of what they’ve been doing: case numbers; plaintiffs’ and applicants’ attorneys of record; defendants’ and respondents’ attorneys’ of record; claim amounts; recovered amounts; fees excluding work in progress; counsel fees and disbursements, and the status of each matter (e.g. whether finalised).

From the schedule, it’s easy to see how the curators allocate their legal work – like favourite law firms – and to take a view on whether the costs of all the legal actions have been worthwhile. But that’s only one point.

There’s another point. It’s that the public disclosures required from the Fidentia curators should be applied routinely to all curatorships. Strange that they aren’t.


I notice from evidence transcripts in the Nash trial that counsel called Peter Ghavalas a “dishonest liar”.

That’s high praise, the expression making Ghavalas an honest truthteller and putting the credibility of his testimony beyond doubt.


The middle name of Arthur Moloto MP, chairman of the Government Employees Pension Fund, is Kuena which means “crocodile”.

So I’ve been scratching around YouTube to see what happens when a crocodile and an elephant meet in unfriendly combat. In each, the croc comes off second best. Perhaps it’s an omen for John Oliphant.

There are also memories of P W Botha, known as the “groot krokodil”. Look what happened to him.


At first, I thought this flag on the front page of Business Report signalled a fresh inside-page take on the GEPF controversy.

But no. Relevant though it seemed to the GEPF, the story was about a road in Mpumalanga.


Overheard during November’s 94.7 cycle race, when a young couple was seen climbing a steep hill on a tandem, from a deeply-moved lady spectator who’d rushed towards them:
“Let him do the wooork! Let him do the wooork!”